Intestacy

If you die without a will (or “intestate”) the identity of the person who will administer your estate, and the way your estate is distributed, will be determined by legislation. Persons who may not be suitable, or who may not be your preference, may end up administering your estate. The persons who will benefit from your estate will be decided by legislation, and you may not want those people to benefit, or to benefit in the way the legislation provides. For example, if a person dies without a will and leaves a spouse and more than one child, the spouse obtains the first $200,000.00 of value of the estate, plus one-third of the remainder (or “residue”), and the remaining two-thirds divided among the children equally. That may be a division that is very different from what you would want to have.